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The Port Authority of New York and New Jersey signed an agreement with Acadia Realty Trust and P.A. Associates to renovate the George Washington Bridge Bus Station for $152 million. The agreement calls for the developer to quadruple the retail space from its current size of 30,000 square feet, while the Port Authority will tackle the bus facilities at the station. The station, which opened in 1963, handles traffic of 20,000 commuters per day.

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A testing hub for self-driving cars and smart traffic technologies is being developed on a 2,100-acre site at the Concord Naval Weapons Station north of Concord, Calif. Honda and Mercedes-Benz have signed up to be among the five automakers and 15 tech companies to use the GoMentum Station. The local transportation authority is also identifying incentives for companies relocating R&D centers or satellite offices in Concord.

SL Green Realty will build a 63-story office tower near New York City's Grand Central Station. The city council approved the plan after the company said it would also perform $220 million in upgrades to the transit station, including construction of a new subway entrances and a pedestrian plaza at street level as well as other improvements. Construction of One Vanderbilt should begin soon and last through 2021.

Chicago Transit Authority will start a new construction phase on the $203 million Wilson Station reconstruction project. On or about March 6, crews will start to demolish, then build new track and a new southbound platform. The goal is to reduce congestion around the station.

New York's Metropolitan Transportation Authority has unveiled a $32 billion, five-year capital spending plan that faces a $15.2 billion funding shortfall. Some options to reduce that gap could include bond issues, transit fare and toll increases or reduction in the spending plan. The main focus of the plan is to complete work on the Long Island Rail Road so it could reach Grand Central Station.

The Port Authority of New York and New Jersey has voted to launch a search for land to purchase in order to construct a new rail tunnel under the Hudson River. The tunnel would provide better rail access to Pennsylvania Station, and construction is set to begin in 2009.